UAE’s wealth fund IDC plans large-scale resort project in Vietnam
UAE has high demand for foreign workers and seeks cooperation in taking Vietnamese people to work in UAE, especially in the fields of tourism and hospitality, the governmental portal reported.
UAE’s sovereign wealth fund Investment Corporation of Dubai (IDC) is planning a large-scale entertainment – resort project in the central province of Quang Nam, according to Mohammed Ibrahim Al Shaibani, CEO of the corporation. Quang Nam is Prime Minister Nguyen Xuan Phuc's hometown. The province has seen big-ticket investments, including an auto-making plan by Thaco.
Prime Minister Nguyen Xuan Phuc (r) and Mohammed Ibrahim Al Shaibani, CEO of Investment Corporation of Dubai. Source: VGP.
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Shaibani stated Vietnam has gathered favorable conditions for tourism development, thanks to friendly people and beautiful landscape.
According to the executive, the first impression of tourists coming to Vietnam is the airport. Therefore, in addition to the “hard” infrastructure, it is vital for Vietnam to invest in the “soft” infrastructure, including the application of IT in immigration process and better service quality for visitors.
UAE has high demand for foreign workers and seeks cooperation with Vietnam in taking Vietnamese people to work in UAE, especially in the fields of tourism and hospitality.
At the meeting, PM Phuc said the Vietnam and UAE are cooperating in various fields, especially in economy, in which Middle East country is Vietnam’s largest trading partner in the region with annual bilateral trade of US$6 billion.
Phuc expected Shaibani’s visit to Vietnam would facilitate the two countries’ cooperation in economy, trade and investment
Vietnam currently has a favorable business and investment environments, and the number of foreign tourists coming to Vietnam is growing strongly, coupled with adequate infrastructure, Phuc added.
Additionally, the Vietnamese government encourages IDC to soon carry out its projects in the country and expand investment to energy, Phuc said.
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Vietnam news in brief - August 24
Read The Hanoi Times to stay up to date on developments in Vietnam.
- Growing number of FDI firms moving to Vietnam
- Vietnam Gov’t committed to facilitating Adani Group’s US$2-billion port project
- Vietnam Railway proposes US$87 million for Hanoi–Dong Dang railway upgrade
- Vietnam’s North-South high-speed railway to be designed for 350km/h
- Vietnamese gov’t urged to address impact of global minimum tax
- Samsung plans drastic investment increase in Vietnam over next three years